Millenium Park median real estate price is $522,837, which is more expensive than 83.7% of the neighborhoods in Illinois and 67.7% of the neighborhoods in the U.S.
The average rental price in Millenium Park is currently $3,604, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.5% of the neighborhoods in Illinois.
Millenium Park is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Millenium Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Millenium Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Millenium Park are 5.3%, which is lower than one will find in 62.2% of American neighborhoods. Demand for real estate in Millenium Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
One of the really unique and interesting things about the look and setting of the Millenium Park neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.4% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.3% of all neighborhoods in America.
In addition, the Millenium Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 89.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, if you like crowded places, then you will probably enjoy the the Millenium Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,667 people per square mile living here.
In the Millenium Park neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 31.8% of residents here. This is a higher proportion of walking commuters than we found in 99.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Millenium Park neighborhood, 21.5% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.7% of the neighborhoods in America.
Finally, more people ride the bus in this neighborhood each day to get to work than 97.2% of U.S. neighborhoods.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Millenium Park neighborhood has a highly unusual pattern of car ownership. 50.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
The Millenium Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.1% of the neighborhoods in America. In fact, 77.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 80.8% of the adults living in the Millenium Park neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Millenium Park neighborhood. In the Millenium Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Millenium Park neighborhood has more Brazilian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Brazilian ancestry and 30.7% have Asian ancestry.
Millenium Park is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Millenium Park neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.8% of the neighborhoods in America. With 11.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.5% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Millenium Park neighborhood, 77.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 10.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.7%), and 2.7% in government jobs, whether they are in local, state, or federal positions.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Millenium Park neighborhood is English, spoken by 60.2% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and French.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Millenium Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (30.7%). There are also a number of people of German ancestry (15.2%), and residents who report Irish roots (8.3%), and some of the residents are also of Mexican ancestry (7.6%), along with some English ancestry residents (5.5%), among others. In addition, 35.0% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Millenium Park neighborhood spend between 15 and 30 minutes commuting one-way to work (47.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (31.8%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (21.5%) and 17.3% of residents also drive alone in a private automobile for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
